Published on 12/30/2020 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $966,000 leveraged capped notes on basket
By Wendy Van Sickle
Columbus, Ohio, Dec. 30 – HSBC USA Inc. priced $966,000 of leveraged capped notes due Feb. 8, 2023 linked to an unequally weighted basket of indexes, according to a 424B2 filed with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 29% weight, the FTSE 100 index with a 16% weight, the Swiss Market index with an 11% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 300% of the basket return, subject to a maximum payout of $1,328.80 per $1,000 of notes.
Otherwise, investors will be exposed to any basket decline.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged capped notes
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Basket components: | Euro Stoxx 50 (36% weight), Topix (29% weight), FTSE 100 (16% weight), Swiss Market (11% weight) and S&P/ASX 200 (8% weight)
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Amount: | $966,000
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Maturity: | Feb. 8, 2023
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the index return is positive, par plus 300% of the basket return, capped at $1,328.80 per $1,000 of notes; otherwise, investors will be exposed to any basket decline
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Initial levels: | 3,545.74 for Euro Stoxx, 1,793.24 for Topix, 6,529.18 for FTSE, 10,523.86 for Swiss Market, 6,675.468 for S&P/ASX 200
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Pricing date: | Dec. 18
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Settlement date: | Dec. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40438CJ51
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